Saudi based Islamic bank enters India, first branch in Gujarat

Bengaluru, Jan 19: The long-awaited discussions on cabinet expansion finally took place between BJP national president Amit Shah and the state party unit on Saturday, but they produced no result.

Latest indications are that new members will be appointed only after CM BS Yediyurappa returns from Davos, Switzerland, on January 25.

The party held a close-door party meeting at a top hotel in Hubballi. The subject of expanding the cabinet, which currently has 16 vacancies, featured in the talks.

Earlier, Yediyurappa reportedly had a one-on-one with Shah during their 45-minute flight from Bengaluru to Hubballi. He is said to have insisted on accommodating all 11 newly MLAs in the cabinet. These legislators were earlier a part of Congress and JD(S); they contested the December byelections on BJP tickets and won.

This apart, BJP sources said, Yediyurappa and Shah had a brief chat at a private event at Palace Grounds . Separately, Shah, who is the Union home minister, held meetings with Jagadish Shettar, Laxman Savadi and Prahlad Joshi, seeking their views on cabinet expansion.

Shah also wanted to get an idea of what people think about the Yediyurappa government’s performance.

Newly elected MLAs Ramesh Jarkiholi, BC Patil and Srimanth Patil greeted Shah. “We only met him to wish him; we didn’t discuss the cabinet issue. That’s something state BJP members will do,” said Hirekerur legislator BC Patil.

Saturday’s deliberations fail to break the stalemate over the cabinet appointments. There are clear differences in the camp about whether all Congress-JD(S) defectors should be made cabinet members, according to a senior minister attended one such meeting.

Shah reportedly wants only seven to eight newly elected MLAs to be made ministers; the rest of the spots should go to BJP loyalists. Yediyurappa disagrees with this position as he had promised all 13 turncoats places in the cabinet. Two lost in the bypolls.

Shah has now asked Yediyurappa to visit Delhi after returning from Davos to finalise the composition of the cabinet, according to the sources.

Yediyurappa will leave for Davos early on Sunday, while Shah will fly directly to Delhi from Hubballi.

Bengaluru, Jul 26: A year-long probe by Coffee Day Enterprises Ltd (CDEL) has found that its late founder V G Siddhartha routed Rs 2,693 crore out of the company to Mysore Amalgamated Coffee Estates Ltd (MACEL), another privately-owned entity of him.

The MACEL owes Rs 3,535 crore to subsidiaries of Coffee Day Enterprises as of July 31, 2019 of which only Rs 842 crore was accounted.

"Therefore, a sum of Rs 2,693 crore is the incremental outstanding that needs to be addressed," said the report of an investigation headed by Ashok Kumar Malhotra, a retired DIG of Central Bureau of Investigation (CBI) and assisted by law firm Agastya Agastya Legal.

Siddhartha was found dead in early August 2019, and many suspected that he had committed suicide.

Steps are being taken by subsidiaries of CDEL for recovery of dues from MACEL, the company said.

"The board authorised the Chairman to appoint an ex-judge of the Supreme Court or the High Court, or any other person of eminence, to suggest and oversee actions for recovery of the dues from MACEL and to help on any other associated matters," it said in regulatory filings at stock exchanges late on Friday.

The probe further gives clean chits to the Income Tax Department and the private equity firms who Siddhartha in his parting letter had alleged of harassment.

"We have not been provided with any documentary evidence to draw an inference that there may have been any advertent or inadvertent harassment from the Income Tax Department," said the probe report.

The probe also highlighted severe liquidity crunch at CDEL in the build-up to Siddhartha's death.

A committee supported by senior professionals was formed to protect the interest of all stakeholders. CDEL said the debt levels which were about Rs 7,200 crore on March 31, 2019 have been brought down significantly by Rs 4,000 crore. The present debt of the group is around Rs 3,200 crore.

"The disinvestment process in the group continues and we are confident to have effective solution to all stakeholders," it said.

Bengaluru, Apr 11: Karnataka Library Department’s mobile application, which is said to be the first of its kind initiative in the country has seen an exponential growth in downloads during the COVID-19 lockdown, a senior Minister said on Friday. The main reason that the application is growing is due to the heavy students demand as schools and colleges are closed during the 21-day nationwide lockdown.

Students are relying on online material for their studies as they can’t step out of the house and risk being infected.

The Library Department's efforts to keep readers active through the lockdown time, by prompting them to utilise its e-initiatives is paying off, Primary and Secondary Education Minister Suresh Kumar said.

"The app is seeing exponential increase in downloads since its launch. As many as 16,500 people have taken it; while ten thousand people have downloaded it during this brief lock down time itself," he said.

E-library mobile app was released by the library department on February 26.

There are over one lakh e-books available on department's digital platform ranging from arts, humanity, school curriculum, competitive exams and self help to classic novels - all for free for the readers.

"Its needless to say, the variety of attractive content that is available in the app is creating all the buzz among the public. Not just the books, the app contains over 600 educational videos too," the Minister said in a statement.

Considering that over 16,500 readers have downloaded the app since its launch a couple of months back, its high time, we see this domain as an opportunity for growth, he said, and stressed on the need for better adaptability approaches to the changing times.